he served as the principal deputy commissioner of the social security administration under george w. bush. welcome to you both. >> thank you. >> woodruff: steven kreisberg, to you first. the basic question here i think is should public employees who have done their time working for the government, are now retired, be subject to any kind of cuts when the city or the state they work for is facing terrible fiscal crisis, and an underfunded pension fund? >> well, the underfunding of these pension funds has nothing to do with the workers. the workers, as you have said, have served their city. they put in their time. they've done the services that they've been paid to provide. the pension is a form of deferred compensation. so typically when people do the service, they get paid. you know, becoming a deadbeat on a pension as the city of detroit is proposing to do is not consistent with the values, i think, of just about anybody in america. so it's really not a case where the workers who are now retired are seeking something to which they are not entitled. the pension isn't provided as a gif